Emerging businesses in Africa overwhelmingly fuel the economy and provide the majority of local jobs. Globalization has presented African entrepreneurs with a unique opportunity to expand their services and offerings worldwide at a scale that has never been available before. However, though globalization provides them with countless opportunities, business owners have several challenges to overcome that are mostly exclusive to Africa.
Startups have six main obstacles to overcome: Limited access to financing, weak infrastructure, inconsistent government regulations, globalization, minimal assistance from the government, and cross-border payments.
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